What supply-side economists say, in other words, is, "Don't worry, be happy and cut taxes."
The real cause of the deficit, supply-side economists claim, was the worldwide rush to buy into America's future.
AEI also became a home for supply-side economists during the late 1970s and early 1980s.
But many supply-side economists doubt the latter claim, while still supporting the general policy of tax cuts.
Even supply-side economists, who believe that tax cuts can pay for themselves through the resulting economic growth, are divided over the Bush plan.
Typical policy recommendations of supply-side economists are lower marginal tax rates and less regulation.
And many supply-side economists support permanent tax cuts, saying this will fuel investment.
Conservatives and supply-side economists argue that the best stimulus would be to lower marginal tax rates.
Well, there are not many supply-side economists who would be in 100 percent agreement with the policies of this Administration.
He is known as a supply-side economist but has little background in securities law.